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| Thursday, 06 January 2005 |
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CSE continues to be top performing market by Sudarshana Perera Eraj Wijesinghe, Chairman, Colombo Stock Exchange (CSE) told media yesterday that the CSE was one of the best performing markets in the world in 2004 with a 40% growth. He was optimistic that CSE will continue to perform on an upward trend and the market will be driven by retail investors despite of the Tsunami disaster. "Investors are looking at the Tsunami disaster from a positive economic perspective as they foresee large foreign aid inflow channeled for reconstruction and rehabilitation," Wijesinghe said. The CSE Chairman also called upon the nation to unite in rebuilding the country with out looking for political mileage. Hiran Mendis, Director General, CSE said that they are planning to introduce the internet trading system to facilitate overseas trading coupled with a re-branding exercise and broadbasing of the trading platform. "We have already taken steps to ensure smooth trading with the ATS version 4 and all technical defects on network have been rectified with additional back up systems," he said. CSE investor fora in Middle East The Colombo Stock Exchange (CSE) will hold investor fora in Dubai and Abu Dhabi this month to attract investors and expatriate workers in the Middle East for equity trading in Sri Lanka. The CSE will go ahead with the promotion in spite of the Tsunami disaster expecting improved investor interest. The roadshow will be held on January 15 and 17. The Minister of Finance Dr. Sarath Amunugama will attend the event. Market closes on high note The market continued its strong position yesterday too with the ASPI ending at 1546.30 points (up 22.37 points) while the MPI ended at 2119.12 points (up 24.65 points). Foreigners were net sellers to the tune of Rs.75Mn. Foreign participation was largely seen stocks such as LOLC, JKH, SLTL and NHL "The market turnover for the day was Rs.386 million . Investors rallying around fundamentally sound stocks saw both the ASPI and MPI ending on very positive grounds. We expect the buoyancy in the market to continue, with investors focusing more on fundamentally strong stocks", Bartleet stockbrokers said. |
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